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01779cas a2200241 a 4500 |
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AALejournalIMF007751 |
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|c 5.00 USD
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|z 9781451975437
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a International Monetary Fund.
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|a Asset Prices and Time-Varying Risk.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1988.
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| 300 |
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|a 1 online resource (26 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a Observers have often characterized asset markets as being subject to periods of tranquility and periods of turbulence. Until recently, however, researchers were unable to produce closed-form asset pricing formulas in a model environment of time-varying risk. Some work by Abel provided us with the insights needed to produce such formulas. This paper gives a exposition of how to develop the formulas in an environment where the formulas may by obtained using a simple extension of standard tools. While the paper is intended mainly as an exposition of new work, it also contains a report on the asset market effect of fiscal reform. It is found that entering a period of weak coordination between government spending and taxing (tax rate) policy is good for stock prices.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 1988/042
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1988/042/001.1988.issue-042-en.xml
|z IMF e-Library
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